tv [untitled] July 29, 2011 8:00pm-8:30pm EDT
make a phone call from an e-mail tweet. hey it looks like tweeting war are not house republicans finally passed a debt well this evening and now has to the senate to die more details on that coming right up. to it makes me sad nativists new york. and gary indiana goes down a few jobs and your prospects could this be the economic fate that awaits the rest of the country. we have been watching former georgia congresswoman cynthia
mckinney and she's traveling in the muslim world saying awful things awful things about her own country well some say awful and some say she's just telling the truth and we'll hear from the congresswoman herself right here on r.t. . anything it's friday july twenty ninth eight pm here in washington d.c. i'm lucy capping off and watching our t.v. . well the race against the clock kicked into high gear at the eleventh hour here in washington earlier this evening house republicans finally passed a bill to raise the debt ceiling of course to cut twenty two billion dollars from next year's spending but it was largely a symbolic gesture in fact boehner might as well have added a pony to his bill he's not getting that either that's because legislation now has the senate with it where it is pretty much guaranteed to be voted down possibly as early as this evening and then of course it is back to square one and the senate
majority leader will try to kick start the process of moving to a final vote on a new plan and while negotiations will continue behind closed doors for now the partisan debate rages on as of course there's the clock right there behind me now when it comes to america's prized triple rate pardon me it may already actually be too late that's not according to me that's according to max kaiser he's the host of the kaiser report and he joined us here on our team earlier today here's more from that interview. well the rating on u.s. debt is definitely going to be downgraded and this is already happening on the periphery rating agencies and other places around the world are slashing that they're going to be downgrading american debt so that is baked into the cake but what's interesting here is that for ten years really sense close to nine eleven we've had a war of savers versus speculators the speculators have been winning the speculators
have been able to borrow money at near zero percent the savers have been the big losers there are a lot of people who are in the savers camp who want to see the u.s. default because this would mean that the bond market would crash but the yield on their savings would go up same thing for gold which is where a lot of people have run now in this war and gold prices up until the graph in this catastrophe for ten years gold prices continue to hit new all time highs and the people who own gold are really love in this because they're going to see price of gold continue to skyrocket so matter you think that washington is a is not involved in the summer thing i mean the easy thing to be saying that really this is not made by wall street here. well washington is a peripheral player now we see this all over the world whether it's i.m.f. is that pulling the strings in europe they're also pulling the strings in washington christie like gary as a matter of fact said he was the new chief of the i.m.f. that the extraordinary exude the extraordinary privilege of the extravagant
privilege of the u.s. dollar that's been enjoyed since world war two is that at risk as the u.s. dollar loses its world reserve currency so the world is adjusting the dollar will lose its status as a world reserve currency u.s. debt will lose the aaa rating and it's a complete different configuration and washington is not the biggest player in this the global bankers are the biggest players the global hedge fund managers that's where the action that is determining the outcome of this not not the players in washington they have already seated control to the global banking industry but then let me get you to react to this we saw just today there's a report that the c.e.o.'s of the nation's leading banks including surprise surprise goldman sachs and j.p. morgan all ended up sending a letter to the white house and congress urging them pleading with them to please hurry out please hurry up and reach that debt ceiling agreement. right why do that if you're if you're saying here that they stand to profit from this whole mess.
well lloyd goldman sachs jamie diamond at j.p. morgan these are what i call nine eleven crybabies they refuse to compete in this world they want interest rates to be near zero if they with a functioning u.s. economy it would mean interest rates are higher which would destroy the speculators but put money into the pockets of working class people but the jamie diamonds and the lloyd blankfein and wall street in total there are as i call their nine eleven crybabies they are they live on the teat of this subsidy that's given to them from the federal reserve and the treasury it's all about ensuring their bonuses and ensuring their salaries they need to grow up it's no longer you can't go to washington anymore the company again and cry that over heard on nine eleven i need more free money you can't do that anymore you have to compete in the globe now you quit your big boy pants on and compete in the globe stop crying you know victimhood be an adult and all this blind fight and die men they're the most overrated bankers
in the history of the world they do nothing but suck corporate welfare and banking well far from washington and they're the adding nothing to the productivity of the u.s. economy and they're described and it's really humiliating to have to witness this but this is part of the process i suppose that america has to go through to get to the next level of global competitiveness because right now america's lost its competitiveness because of these these bankers who have destroyed the economy for a few extra bucks so what is the next level i mean if you're saying that we're going to get down right at the dollar's going to turn into trash that's not on its way they're ready what is the next level how do you get out of this mess. well that was the way to get out of this mess is you need to accept the fact that the dollar is in a bubble and needs to be marked down by fifty or sixty percent you need to take the hit similar to what iceland did they said look we can't we're not going to spend the rest of our. time in the indentured servitude position from these bankers we need to take the hit let the krona collapse the us if they were being mad as shit
by somebody who knew something about economics and not barack obama who's financially illiterate they would allow the dollar to collapse against other currencies let the economy go through two or three years of a gut wrenching depression may come out of it and rebuild but keep their sovereignty and tax your money matters a shock therapy is the way to go to keep your sovereignty otherwise america will end up like greece losing their sovereignty america will end up like other countries in the euro zone like ireland that's lost its sovereignty to the i.m.f. in these other backing institutions i think most americans would prefer to be sovereign and free than to be a vassal state of international bankers but they know better than flag that saying this i'm sorry to interrupt there but if you know that yes i'm sure americans do not want to see the loss of their sovereignty it at the same time most average folks out there i mean i don't know if they could see it as going any worse we have fourteen point one million unemployed we have forty four million on food stamps i mean how much worse that they're going to get if we do this shock therapy approach
. it's that they have this this as an even begun to unfold in terms of the tragedy of the economy here in the u.s. because it's all about prices. the price of gas and food in america particularly the price of gas or tripled from its current level and this is what people have to understand this is going to happen regardless of what obama those are john boehner does the global currency grid the thiago money system is collapsing this is what gold and silver are telling us and gas has been artificially cheap for decades through subsidies to coming out of governments of the banking system as well as all these wars of convenience that the u.s. wages in iraq and afghanistan this is all just a murder for hire by the oil industry to keep the price of gas down to keep the man on the street calm and subdued but the lives coming off the cattle and now the gas prices are going to be six seven eight nine ten dollars a gallon like it is in europe and then we'll start to see some real action but
that's baked into the cake as i said before that's not nothing that anyone can do is going to stop this because the post world war two era of adding debt to finance growth climax in two thousand and seven no amount of dead can stimulate any growth to pay this debt because the economy is reached at saturation and no amount of additional debt and this is all the plan that obama and boehner putting forward is to restructure the debt or add to the debt that's not going to create enough growth to pay down the debt therefore it's so facto as night follows day this downward spiral of u.s. bonds u.s. credit rating in the u.s. economy is is not going to be interrupted by anyone or any policy and max i know you're saying that our washington a sort of a peripheral press player here in this whole mass but these tea party folks i mean do you think that they really understand the consequences of what they're pushing forty think may be understand and are in fact calling for this shock therapy collapse you know cut off the finger to. remove the virus or do you think that it's just i don't know ignorance i'm going to oppose every single piece of legislation
that comes before me because i got elected to do just that. but the tea party is financed through the koch brothers and their allegiance is to the oil industry and as prices of oil goes up the koch brothers make money in the tea party or on the street unemployed only in america do you find a population is willing to go out in the street and fight for oligarchs and to fight for monopolists this is only this is unique to america because everyone in america thinks they're only one lottery ticket away from being a billionaire they don't seem to comprehend the fact that maybe as a joint effort as this in a civil society they have rights that they can lobby for and push back against the speculators and these borrowers and this is what is in my opinion as i said at the top of this of the of the segment is that the savers are going to win this battle as the bond market crashes so all the nine eleven crybabies on wall street going to get punched in the face like they should have gotten five years ago like obama should have done we took office in two thousand
a kick out or kick out larry summers kick out ben bernanke he should replace all those guys in the face throw them to the curb bring in real those responsible people like a paul volcker for example but instead he decided to just keep the status quo going and to line the pockets of these bankers who now put a gun to the said and they've basically embarrassed him they want the election they want to recall the election it's like the recalling the presidential election by putting making barack obama appear as weak and ineffectual and financially illiterate as he now does is totally destroyed his career but it's good for these bankers but he really think that obama's that is done something i mean kicking those guys out of office that's just a handful of a significant of a much larger entrenched interest barrack he really have done more than he had to change the status quo here. absolutely you've got. the example in the u.s. for example the savings and loan industry way out is somewhat similar situation where a handful of corrupt bankers dominated industry and they want to the government to
get six hundred billion dollars worth of damage essentially and those folks were the ring fenced and they fifteen hundred bankers went to jail and over a twenty year period of time they worked out the problem at obama done something similar created a resolution trust corps type situation for other bad debts nationalize the banks for a year or two kicked out the financial terrorist like blankfein like jamie diamond like the folks at citigroup and wells fargo and walk over who was caught laundering two hundred thirty billion dollars with a mexican drug money put those guys in jail bring in responsible bankers and restart the system but this is where his financial illiteracy is important because he does not really understand the dimensions of this problem at the time well enough to do the right thing and now two years later it's kick him in the pants and he looks horrible which is great again for the bankers but ultimately the global dynamic here savers versus speculators the savers are winning this battle gold and
silver as i've said on my show kaiser report for the entire show that's been on the air gold and silver they are continuing to hit brand new highs it's the only currency in the world that is safe that is not encumbered by counterparty risk and this is just going to continue so this is really just that we're not even at the rat the beginning of the middle of the crisis that started in two thousand and seven and the lehman brothers was the end of the beginning now we're in the in the beginning in the middle of the middle and we have not seen yet the biggest fire works of this global banking catastrophe is yet to come both scary predictions there max then a very very briefly to the savers that they're winning as you say today had a name and a face who are these guys. well i'm you know the silver liberation army but i started my career as a report of a show on r.t. is part of the savers around the world that are looking our chops at the collapse
of the us dollar and the us bond market because you know we were using were all for free markets that's why you're to blame oh my. macro we're out of time but thank you so much i really do appreciate us spending some time with their new york and i was max kaiser now just a quick update the senate is right now as we speak voting to table speaker boehner is debt bill that's legislative speak for killing that legislation effectively so the debt crisis while still in crisis mode let's leave washington for just a moment it had to gary indiana goes down with you jobs and your prospects are he's out of the theater can now reports. this is america's ghost town. just twenty five miles from downtown chicago gary indiana the symbol of urban blight compared to post evacuation sure not well by others it is a sad thing really is and very depressing. when you see something like this
in this kind of condition to just continue the page and continue to fall apart this is the city methodist church today it's an abandoned show with rusted ceilings rotting junk and graffiti on the sites following the first disrepair. it's like. it's horrible truth in the one nine hundred twenty s. first a place of worship leader a community center it is now at the forefront of gary's decline were used to be a symbol of architectural might and brought the people of gary together is now an enormous space filled with ruins where the only form of life for the pigeons that flying through the walls and the ceilings urban explorers historians and architects are saying that the chances of this place ever being rebuilt are close to zero so it looks likely that this place as well as many others throughout gary are on their
way to completely seizing to exist. founded by u.s. steel corporation in one thousand and six the town of gary once with manufacturing jobs but competition from overseas led to a ninety percent cut in the workforce one industry urban center came crumbling down once the steel plant. suffered its loss of thirty thousand jobs. that. the population. revenues for the city would go to and so that accelerated and sort of snowball various population has been cut by half as many fled in search of work it is now almost exclusive. we african-american over eighty four percent to one third are poor in one of the talk ten most dangerous cities in america twenty nine allen has had no work first three years there's really no. job opportunity here for me. out of here there was looking for
two but then again it's the you never hear the downtown area is now no town that means commercial streets and urban desert and the economy here collapsed so did countless businesses small and large creating a town where sites like this a common and has long forgotten door shots windows walks moment pop shops abandoned to growth businesses are strip clubs and. truck stop eating places city hall stands right across from a former hotel's haunting site here in derry he hears places like this would become a temporary home for out of towners visiting this place the hotel is now deteriorating there are no windows left and the police cars outside making sure squatters don't get ahead there's no other hotel left in this town there are no one investment flowing into this area nowadays instead there is only hopelessness building up to make her say you know what it's like it's like.
well i think it will be best if i relocate you know the way i see it anywhere is that it is here nothing here or the right but legally there's not much to be found elsewhere either while gary's a symbol of collapse industry has been dying all across the u.s. promises of a manufacturing revamp overreach but places like this are being a race from the map of america and say future can add thirty gary indiana but the political debt debate may have eclipsed all of the other battles here in washington but i forget folks we are still at war several wars in fact now what do you agree with the politics. our air strikes abroad whether you believe that i don't know national security is absolutely absolutely totally demands that we keep all of these bases all across the planet what are you a democrat republican or not at all it's time to face the facts we can't afford to keep separating the fiscal crisis from our wars well that at least is
a message from u.s. congresswoman cynthia mckinney as she took some time to chat with us earlier this evening in our new york studios and let's play a portion of that interview for you. best what the american people are asking is well i am on a nationwide tour we've been to about fourteen cities we have. probably half that left to go to go to to visit and people are asking what is going on in washington d.c. and then of course as the drones keep falling elsewhere around the world in the american war machine just seems to ravage on people in the rest of the world are also asking what the heck is going on in washington d.c. i'm very saddened by the story that you just played about gary indiana and this kind of situation is happening all across our country the
united states is becoming a shell of itself and at the same time it's the decision makers in washington d.c. have chosen to finance war after war after war after war death and destruction in other parts of the world while we decay here at home and congresswoman i mean it doesn't even matter who is in power whether it's the democrats or the republicans anymore i mean it seems that these kind of decisions continue to get made regardless of was in power. well i think it doesn't matter who's in power but i mean we have a democrat in the way ours and the. that's not my point it doesn't matter who's in the white house the problem however is that who's in the white house so far has been from the democratic party or the republican party and both of those parties have proven themselves to be war parties that is the problem so just as we are
seeing. the political process open up in green party members being able to enter into the european parliament the parliaments of the various european states even in canada now i think the voters are going to have to understand that they've got to vote neither democrats nor republican if they truly want peace and justice and a sane economy that respects our environment and respects the people who contribute to it all right and he just of course returned as i said in my set up there from a trip to libya what message do you have for the american people based on your experiences there. the united states has no business being involved in the death and destruction that is going on in libya right now the united states needs to take care of home and i am pleased that sixty percent or more of the people of the
united states agree with me very many members of congress agree with me and so what we've got to do and that is one of the functions of this nation like to or is to encourage people to don't give up to continue to contact your member of congress and tell them stop financing the u.s. war machine in every town that we've been to they're laying off teachers people are asking for healthcare people are asking for jobs they're asking for a decent education for not only their children but the opportunity to provide lifelong learning you cannot have guns and butter we established that very clearly with the vietnam war and the presidency of lyndon baines johnson you cannot war and finance the needs of the people so is cut out the war financing and bring those were dollars home was a strong message and. i'm trying not to hold my breath until the folks here in
washington really listen but you raise a good point you said that the american people are tired of this conflict they're tired of the war in libya not to mention afghanistan iraq it does seem to be the consensus according to polls but yet when folks like yourself come out there and make messages like this sometimes you see the establishment attacking you individually and i actually want to play you something that fox news had on the air on bill o'reilly's show just a few days ago take a listen. we have been watching former georgia congresswoman cynthia mckinney because she's traveling in the muslim world saying awful things awful things about her own country and we believe it's because he's being paid to do this but we can't confirm that what's your response when you hear something like that well it's absolutely ludicrous that fox news believes that they have the only people who can provide a prism of or a view into what's happening in washington d.c.
and that they are the only ones who can make commentary fox news is not mentioned one bit about the wiretapping and the hacking into the pot the possibility that it happened right here in the united states and so i agree with members of congress who are now asking for that kind of an investigation of just exactly what the truth is with respect to not just fox news but the behavior of all of the media who have been given a license to mutilate the truth particularly with respect to the wars that are going on now well it's interesting that you bring that up because in that segment parcel bill was interviewing a fox business reporter i don't know why they brought her on to. sort of tear you apart here but apparently they didn't like the fact that you were speaking to foreign media let me play you another sound bite we have there after she made these
comments she was also on libyan state television criticizing a number of things about the united states including president obama's own policies the state of this country i thought were this country's about free access to information regardless from former. well we say that we are the paragon of free speech and with the paragon of democracy but the fact is that one certain people exercise their freedom of speech then of course that's not the speech that they want to hear the fact of the matter is that the american people by vast majority agree with me that we need to bring our war dollars home the united states conference of mayors has said the same thing that the war dollars need to rebuild u.s. citizen cities and that we need to bring those war dollars home i cannot reiterate more the need for us to rebuild our city so that we don't have gary
indiana as replicated across the american landscape that is the situation if you go to gary indiana detroit michigan you go to benton harbor i just came from newburgh new york where the people are languishing and government is not servicing their needs people everywhere i stopped are asking for health care something as simple as providing the means to live of a quality of life that is one of the responsibilities of government not to go out across the world and rattle sabers and other countries and then also deal in the death and destruction that is engaged in war and congresswoman and i really don't like to leave bill o'reilly hanging in there and i want you to respond to this last last last question that he seems to be struggling with let me play that one last segment. she's obviously not paying her airfare these countries you've got
to you know to get into them it's not an easy deal to get to tripoli now it's not easy trying to get to cheer on is not easy somebody is behind us we just don't know you so who is paying you congresswoman as it means that the chinese or the top russians who are there. well you know what the he didn't say was that the fox news reporter just recently was trying to get into tripoli and was refused at the border now any other person who applies for a visa can get in but you cannot get in if you're going to for the purpose of lie and of course. so whatever it is that they want to say fox news can say whatever they want to say they are even losing their own credibility even with the american people their viewership is falling their
viewership imperial period is falling because. the true story is being told by outlets like russia today for example you've had me to come on although i didn't know what the subject matter was going to be but i made it a point to get here well she's a fan those former congresswoman cynthia mckinney but make sure to watch r t america next week we're working very hard to bring you some of the most hard hitting stories and interviews that you are not going to see on c.n.n. or fox news or any of those outlets for us but have the latest on the debt ceiling debate the drama is right now playing out on the senate floor as we speak actually i believe the senate voted down the better bill but it will get become us next tuesday and then of course is that the end of the world as we know it now some americans certainly seem to think so we're going to show you one new jersey family who's prepared come hell or highwater or just economic collapse and finally it's
a man's world and you may not believe me but russia has ten thousand more women than men so what's a man to do when it comes to dating even marriage but you know the saying the more the merrier and that's what's on tap next week to stay tuned to our team for all the stories that you won't find out where and of course that is it for this hour here on r.t. america but the news does not end with this broadcast there's a lot more stories and details on our website r.t. dot com slash r.t. america pardon me if you want to watch us on your i phone and your laptop no big deal just head to our you tube channel youtube dot com slash r.t. america and if you want to get in touch with me weigh in on any of the stories that you saw this evening or just check out what stories i'm reading follow me on twitter it's at lucy now we'll be back in a bit with more news and commentary about. what drives the world the fear mongering used by politicians who makes decisions to break through through the pretty maid who can you trust no one.